Education Minister, Haruna Iddrisu, says the newly launched 24-Hour Economy policy by President John Dramani Mahama will be led by the private sector, not government.

Speaking on PM Express, the Tamale South MP said the president made it clear that government would only act as a facilitator and enabler to support businesses willing to take up the initiative.

“What was profound is for the President to remark publicly that 24-hour economy will be private sector led, and that it will not be dominated by government, and that government will only be an enabler, a facilitator, for the private sector to take up the initiative in the various sectors of the economy,” he stated.

According to him, President Mahama launched the 24-Hour Economy alongside the Accelerated Export Development Initiative as part of a strategic national response to Ghana’s import-heavy economy.

“He launched the 24-hour policy and the accelerated Export Development Initiative of his government, and shared with the Ghanaian people that this has been in his thinking and contemplation in the last four or more years,” Mr Iddrisu noted.

“He’s talked about it whilst being out of government as President of the Republic, and expedited by the circumstance of our country that we still spend huge amounts of money on imports.”

He cited figures shared by Mahama to illustrate the challenge. “About $3 billion on rice imports, $3.4 billion on cereal grains, frozen poultry on $2.6 billion and sugar taking $2.4 billion,” he said, emphasising the urgency of promoting local production and export.

Haruna Iddrisu said he interpreted the launch as a direct response to a national need.

“It means that the President wants to respond to a national need, a need for us to invest more in - in his words - to have a self-reliant, dependent, food sufficient, producing country that can feed itself in a country that guarantees food security.”

He also highlighted the significance of the president appointing Goosie Tanoh to spearhead the initiative.

“That is why he’s gotten Goosie Tanoh, one of the sharpest and brilliant minds of the NDC, to be the anchor person to guide him in implementing the 24-hour economy.”

Haruna Iddrisu emphasised that Mahama’s intentions go beyond slogans.

“From policy or from slogan to action, 24-hour plus initiative of the president,” he said. “This is not an event or a race which must end today.”